Homework answers / question archive / Marcel Co

Marcel Co

Finance

Share With

Marcel Co. is growing quickly. Dividends are expected to grow at a rate of 0.12 for the next 4 years, with the growth rate falling off to a constant 0.04 thereafter. If the required return is 0.13 and the company just paid a $1.46 dividend, what is the current share price? Answer with 2 decimals (e.g. 45.45).